You might think: no one is going to hack my Instagram account. And you might be right. But here’s the thing: if someone does hack your account, you have next to no chance of getting someone at Instagram to restore it. Rather than make it easy for hackers to take over your account, spam your friends and delete years of photos, you should use 2FA. To do so, read this article: How to Turn on Two-Factor Authentication on Instagram.
While you can use SMS, I recommend using an authenticator app. That article explains how you can do it either way. Authenticator apps are more secure than SMS and are the way to go these days. For more on that, see PCMag.
